on FLYHT Aerospace Solutions Ltd. (isin : CA30252U3038)
FLYHT Announces Closing of $5 Million Unsecured Debenture Arrangement
Calgary, AB / ACCESSWIRE / June 10, 2024 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) has announced the closing of an unsecured debenture of $5 million. This arrangement is with Pinnacle Island II LP, an unrelated lender.
The debenture has a three-year term, with an annual interest rate of 12%, payable quarterly. Proceeds are discounted by 5%, benefitting the lender. Additionally, FLYHT issued 2,000,000 common share purchase warrants to the lender. Each warrant is exercisable at $0.4839 over three years.
Paradigm Capital Inc. acted as a financial advisor on this deal, receiving a 4% cash commission of the debenture's principal amount.
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